EU presents 12th package of economic sanctions against Russia

European Union Foreign Policy Chief Josep Borrell, in collaboration with the European Commission, presented EU member states with proposals for the 12th sanctions package against Russia.

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Borrell's statement was published on the European Union's official website on Nov. 15.

The document proposes expanding restrictions against 120 Russian individuals and entities for their role in undermining the sovereignty and territorial integrity of Ukraine.

The proposals also include new bans on imports and exports from Russia, measures to combat the circumvention of EU sanctions, and further restrictions on the oil price cap.

There are specific references to the enhancement of sanctions against persons and companies associated with the Russian military, defense, or IT sectors. Additionally, it touches upon individuals involved in sham "elections" conducted in occupied Ukrainian territories.

Read also: EU mission to visit Kyiv in December to discuss security guarantees — Borrell

According to Reuters, finalizing the sanctions package could take several weeks. EU countries will discuss the package on Nov. 17.

Read also: NV investigates why Ukraine has yet to impose sanctions on dictator Lukashenko

Bloomberg has reported that, as part of the 12th sanctions package against Russia, the European Union proposed banning the export of machinery and machine parts that Moscow uses in the manufacture of weapons against Ukraine.

Previous reports suggested that the 12th round of sanctions could impact $5.3 billion worth of EU trade with Russia.

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